ogdabber

Head & Shoulders Pattern: Complete -- Now, $83 Fib retracement

Short
NASDAQ:ROKU   Roku, Inc.
I was watching for descending triangle to follow through, but it seems there was enough buyers that it didn't fall through the "weaker" $87/88 support... Now, after bouncing off 50 MA, this recent pump back up to $99 resistance (20 MA) seems to have completed the right shoulder in H&S pattern... Given this pattern has an approximate 85% accuracy rate for predicting next major trend, I give it until 7/10 to start falling back down -- expecting a retracement of $83 support... Considering ROKU's international growth and likely buyout (by AMZN , NFLX , DIS, or even T ?), I'm anticipating a strong ER in early August to boost the stock up to new all-time highs... but please review my eval and let me know what you think! I see the MACD line, RSI , and Chande Mom are all indicating a potential near-term pop -- but the CEO just unloaded tons of shares, and it did NOT break through 100 ceiling today, so is this not going to have a dreadful week ahead? Please share your thoughts!

Please consider this a journal entry and not professional trading advice.

UPDATE: It seems that the volume also support this as H&S? Increasing up through left shoulder, then dropping into head, and falling through right shoulder. I appreciate your feedback.
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